Trump faces the risk of a coronavirus cliff

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Unemployed Americans will lose a federal safety net long before the economy fully recovers — potentially creating a messy Election Day for the GOP

that he was leery of adding much more to the deficit, joining other conservatives who are growing concerned about the GOP record of racking up a mountain of debt after railing against it for a decade before Trump.

And risks remain high that quick reopenings could lead to fresh virus breakouts, shutting down the economy again. There are complex political calculations in play over a potential successor to the $2.3 trillion CARES Act. Some close McConnell observers say despite recent remarks urging states to consider bankruptcy and warning of any more big spending, the Kentucky Republican knows another significant injection of federal funds will be required to boost the economy heading toward Election Day. Blocking one could wreck the prospects for numerous GOP candidates in November.

But others warn that McConnell’s stance and general Republican pressure not to add much more to federal deficits could wind up delaying or even killing another big stimulus package, an outcome that could curtail any chance for a fast recovery and slam marginal Trump voters in critical swing states. The first read on economic growth in the first quarter of the year, due out Wednesday morning, is expected to show an annualized decline of around 4 percent. The second quarter, which covers most of the Covid-19 shock thus far, will be far worse with estimates ranging up to an annualized decline of 30 to 40 percent.

 

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Why don't you publicly retract the Trump, Bank of China story and apologize for lying to the sheep dumb enough to trust you? Do it now. Today.

Why would that be messy for the GOP. They have done a great job . But th ere will be a mess on Election Day because many many democrats will lose their seats

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U.S. economy faces historic shock, with 16% joblessness possible, Trump adviser saysThe shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday. What do you mean WILL push? We have 26 million already unemployed in a workforce of only 150 million adults. YOU do the math. Disappointing that Fauci will likely add to that skyrocketing unemployment number... Real unemployment rate soars past 20%—and the U.S. has now lost 26.5 million jobs
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